Financial Sector Regulation Act, 2017 (Act No. 9 of 2017)Chapter 16 : Fees, Levies and FinancesPart 1 : Fees and levies241. Determinations of information required for assessment of levy or deposit insurance premium |
[Section 241 heading substituted by the Schedule: Amendment of Laws: Section 4 of the Financial Sector and Deposit Insurance Levies (Administration) and Deposit Insurance Premiums Act, 2022 (Act No. 12 of 2022), Notice No. 1512, GG47696, dated 9 December 2022, per section (d), item (8)(a) of Commencement Notice No. 3188, GG48291, dated 24 March 2023]
| (1) | A financial sector body may, in writing, require a supervised entity or member to provide it with information relevant to any assessment of the supervised entity’s or member's liability for any levy or deposit insurance premium as specified in the requirement. |
[Section 241(1) substituted by the Schedule: Amendment of Laws: Section 4 of the Financial Sector and Deposit Insurance Levies (Administration) and Deposit Insurance Premiums Act, 2022 (Act No. 12 of 2022), Notice No. 1512, GG47696, dated 9 December 2022 - effective 1 April 2024 per section (d), item (8)(b) of Commencement Notice No. 3188, GG48291, dated 24 March 2023]
| (2) | A requirement in terms of subsection (1) may be published in the Register or provided to the supervised entity or member from whom information is required, and must specify the manner in which, and the date by when, the information must be provided. |
[Section 241(2) substituted by the Schedule: Amendment of Laws: Section 4 of the Financial Sector and Deposit Insurance Levies (Administration) and Deposit Insurance Premiums Act, 2022 (Act No. 12 of 2022), Notice No. 1512, GG47696, dated 9 December 2022 - effective 1 April 2024 per section (d), item (8)(b) of Commencement Notice No. 3188, GG48291, dated 24 March 2023]
| (3) | A supervised entity or member must not fail or refuse to comply with a requirement issued in terms of subsection (1). |
[Section 241(3) substituted by the Schedule: Amendment of Laws: Section 4 of the Financial Sector and Deposit Insurance Levies (Administration) and Deposit Insurance Premiums Act, 2022 (Act No. 12 of 2022), Notice No. 1512, GG47696, dated 9 December 2022 - effective 1 April 2024 per section (d), item (8)(b) of Commencement Notice No. 3188, GG48291, dated 24 March 2023]
| (4) | In this section, ‘information’ does not include aggregate statistical data or information that does not disclose the identity of a person. |
[Section 241(4) inserted by section 52(b) of the Financial Sector Laws Amendment Act, 2021 (Act No. 23 of 2021), Notice No. 789, GG45825, dated 28 January 2022- effective 1 June 2023 per (b)(i) of Commencement Notice No. 3202, GG48294, dated 24 March 2023]
[Section 241 takes effect on 1 April 2023 in respect of determinations of information by financial sector bodies other than the Corporation for Deposit Insurance as per Notice No. 3187, GG48291, dated 24 March 2023 and 1 April 2024 in respect of determinations of information by the Corporation for Deposit Insurance]